Global NEV Leader BYD Unveils Premium Brand Yangwang U8 Worth Nearly $160,000 at Shanghai International Auto Show, Attracting Numerous Attention

Published: Apr 26, 2023 10:46

Source: SMM

Save

SHANGHAI, Apr 26 (SMM) - BYD, who ranks top in (new energy vehicles) NEV sales not only in China, but also the globe, has unveiled its first premium brand Yangwang U8 worth 1.09 million yuan ($157,400) at the ongoing Shanghai International Auto Show. Visitors were queuing up for at least one hour just to get a glance at the car. Even the executives of foreign luxury brands like Ferrari, Porsche and Lamborghini came to have a close look at the car.

Theme At Shanghai Auto Show Is Clear: Chinese Automakers Are Leading Electric Car Field

It was reported that Yangwang U8 had received more than 30,000 orders. This figure is astonishingly amazing because the orders for Mercedes-Benz S, which was sold the most among the luxury auto brands with a starting price of at least 1 million yuan in China last year, were merely more than 20,000 units.

Chinese Auto Market Is Undergoing Major Shift, New Energy Vehicles Regain Momentum, Echoed by BYD’s Dominance in March Passenger Car Sales

Market Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Jul 17, 2026 18:32

New-generation Li L6 launched, priced at RMB 249,800

On July 16, Li Auto launched the new-generation Li L6 with a unified national retail price of RMB 249,800. Retaining the spaciousness and dimensional advantages of its predecessor, the new model has been upgraded in core experience dimensions including comfort, handling, intelligence and driving range, with intelligent systems as a key focus of the upgrade. It is equipped with Li Auto’s self-developed Mach M100 smart driving chip, Qualcomm Snapdragon 8797 cockpit chip and a 29-inch 6K panoramic display. A dual Mach M100 embodied AI package is available as an optional extra, bringing it on par with the RMB 500,000 flagship Li L9 in terms of hardware specifications with chips of the same generation. In terms of power, the battery capacity of the new-generation Li L6 has been raised from 37kWh to 51kWh, lifting its CLTC pure electric range from 212 km to 300 km, while charging from 20% to 80% SoC takes only 12 minutes.

Jul 17, 2026 18:32

Jul 17, 2026 18:30

GAC Group's 30-millionth complete vehicle rolls off the production line

On July 16, GAC Group announced its 30 millionth finished vehicle rolled off the production line, which is the overseas version of M8 PHEV. Following FAW Group, SAIC Motor, Dongfeng Motor and Changan Automobile, GAC becomes China’s fifth automotive conglomerate to hit the 30-million-unit production milestone. GAC Group stated that the output of 30 million vehicles represents the choice and trust of 30 million household customers. Statistics show the group sold 144,866 vehicles in June, down 3.47% year-on-year; cumulative sales for the year reached 773,085 units, a year-on-year increase of 2.35%.

Jul 17, 2026 18:30

Jul 17, 2026 18:29

China's sales of power and energy storage batteries rose 49.1% year-on-year in June.

On July 16, the China Automotive Battery Industry Innovation Alliance released monthly data on power batteries for June 2026. China’s combined sales of power and energy storage batteries reached 196.0 GWh in June, rising 7.6% month-on-month and 49.1% year-on-year. Power battery sales stood at 133.4 GWh, accounting for 68.1% of total sales, up 5.0% month-on-month and 41.8% year-on-year. Energy storage battery sales hit 62.6 GWh, making up 31.9% of the total, with a 13.4% month-on-month increase and a 67.5% year-on-year surge. From January to June, cumulative sales of power and energy storage batteries nationwide totaled 979.4 GWh, growing 48.6% year-on-year. Cumulative power battery sales reached 661.3 GWh (67.5% of the aggregate), climbing 36.2% year-on-year. Cumulative energy storage battery sales were 318.1 GWh (32.5% of the aggregate), jumping 83.4% year-on-year.

Jul 17, 2026 18:29